The Tata Sons-owned Air India has lowered the eligibility age for voluntary retirement scheme (VRS) to 40 from 55 and introduced a money incentive for workers choosing the scheme. The airline, in a letter to staff, mentioned as per the prevailing relevant service laws, everlasting staff can avail voluntary retirement if they’ve attained 55 years of age or accomplished 20 years of steady service.
“An ex-gratia quantity can even be offered to the aforementioned staff, who apply for voluntary retirement from June 1, 2022, to July 31, 2022, as a one-time profit,” the letter mentioned.
As a further profit, the service additionally lowered the age eligibility to 40 years from 55 years for sure everlasting staff, together with cabin crew, clerical, and allied and unskilled staff, the letter, a duplicate of which was reviewed by FE, mentioned. “The acceptance of your software for the above advantages and the date of launch shall be topic to the administration’s discretion,” it acknowledged.
The service had 9,426 everlasting staff as of November 2019. In Could, Tata Sons had appointed aviation trade knowledgeable Campbell Wilson because the CEO and MD of Air India.